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The EUs antitrust regulator has approved Paramounts (PSKY.O) $110 billion acquisition of Warner Bros. Discovery (WBD.O).Iranian Parliament Speaker Qalibaf: If our region cannot sell oil, then no one can sell oil.Iranian President: The Iranian people will not succumb to threats. We have always emphasized the importance of diplomacy and advocated resolving differences through political means.On July 23, Wang Yi stated that China highly appreciates the Papua New Guinea governments announcement of the closure of the "Taipei Economic Office in Papua New Guinea." This is another key measure by the Papua New Guinea government to implement the one-China principle, following the closure of the "Trade Representative Office of Papua New Guinea in Taiwan." It is a completely correct move, in line with the fundamental interests of Papua New Guinea and its people, and will further consolidate the political foundation of China-Papua New Guinea relations, inject strong momentum into the comprehensive strategic partnership between the two countries, and also provide a model for other countries to correctly handle issues related to Taiwan institutions.On July 23, Wang Yi stated that under the strategic guidance of the two heads of state, China and Brazil have made positive progress in jointly building a community with a shared future for a more just world and a more sustainable planet. The comprehensive strategic partnership between the two countries has always been at the forefront globally, and it is necessary for both sides to maintain strategic communication, strengthen strategic coordination, and deepen strategic cooperation. China will continue to support Brazil in safeguarding its sovereignty, security, and development interests, and believes that Brazil will, as always, respect and support China in safeguarding its core interests. China is willing to work with Brazil to implement the important consensus reached by the two heads of state, strengthen cooperation in areas such as aerospace, connectivity, and artificial intelligence, and provide greater support for their respective development. China welcomes Brazils accession to the World Artificial Intelligence Cooperation Organization to safeguard common interests and deepen mutually beneficial cooperation in the new round of technological revolution. Vieira stated that the leaders of Brazil and China maintain close communication, build high mutual trust, and jointly lead bilateral relations to a high level. Exchanges between Brazil and China at all levels are frequent, and bilateral trade reached a new high last year. Brazil looks forward to working with China to further deepen cooperation in areas such as finance and trade, and strengthen collaboration on multilateral platforms such as the United Nations and BRICS.

U.S. Congress Leans Toward Massive China Competition Bill And Votes on Iran

Charlie Brooks

May 05, 2022 10:14

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The United States Congress moved closer to finalizing a long-stalled bill allowing hundreds of billions of dollars to bolster the country's ability to compete with Chinese technology on Wednesday, with Senate votes on a variety of subjects, including Iran policy.


Although the motions are not binding, they provide insight into what senators want to see in the final bill and what would prevent it from receiving enough votes to become law.


Republicans used debate on the bill to offer motions weighing in on President Joe Biden's efforts to renegotiate the international nuclear deal with Iran, which passed with support from several Democrats.


Republicans were unified in their opposition to the 2015 nuclear deal.


Senators voted 62-33 on a "Motion to Instruct" that, if passed, would prevent the Biden administration from eliminating Iran's Revolutionary Guard Corps' terrorist status, a roadblock to restarting the nuclear accord.


Additionally, the Senate voted 86-12 in favor of a resolution declaring that sanctions against Iran related to terrorism are vital to rein in China's assistance with Iran.


Such measures might complicate delicate nuclear deal negotiations, but western officials have largely abandoned optimism that the deal can be restored following then-Republican President Donald Trump's 2018 withdrawal.


They also have the potential to complicate the passage of the China competition measure, which has been wending its way through Congress for a year.


Senate passed the first version in June 2021, with overwhelming bipartisan backing. The $250 billion package was heralded as the most significant government intervention in manufacturing in decades, but it was delayed in the House.


In February 2022, the House enacted its version, the "America COMPETES Act of 2022." Except for one Republican in the chamber, every Republican voted nay.


Nearly $300 billion is authorized for research and development under the COMPETES Act, including $52 billion to subsidize semiconductor manufacture and research.


After the Senate votes on all 28 Motions to Instruct, House and Senate lawmakers will begin their conference on a final COMPETES Act. Aides to Congress anticipated months of negotiations.

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